Governor Seyi Makinde of Oyo state on Wednesday presented the 2020 appropriation bill of N208b on the floor of the State House of Assembly.
The budget presented which was N77 billion lower than the N285.2 billion 2019 budget presented in 2018 by his predecessor, Abiola Ajimobi, has N100,142 billion as capital expenditure representing 47.9 per cent of the total budget estimate.
This was an increase of 20 per cent of capital expenditure compared to the 2019 budget.
While, the total recurrent expenditure for 2020 fiscal year is N108,660 billion representing 52.1 per cent of the budget.
Makinde who arrived the Assembly complex in Ibadan, the state capital around 11.00am in company of his Deputy, Rauf Olaniyan, members of the state executive council traditional rulers and members of the Peoples Democratic Party(PDP) in the state mentioned that 22.37 per cent of the total budget has been allocated to education and 5.18 per cent for Heath.
Makinde said that works, infrastructure, education, Heath and agriculture are among the key areas where the budget will focus on.
Stating reasons why the capital expenditure increased by about 20% compared to the 2019 budget,the governor stated that ” increased allocation to capital projects directly contributes to a more buoyant economy and sustainable development.”
According to him,you will also note that our capital expenditure increased by about 20% compared to the 2019 budget. Total capital expenditure of N100,142,690,046B, is 47.9% of the total budget estimate. The importance of this increase should not be lost on us. Increased allocation to capital projects directly contributes to a more buoyant economy and sustainable development. As stated earlier, we will not only be starting new projects but also completing all ongoing projects from the previous administration.
On the Internally Generated Revenue(IGR Makinde insisted that the sum of three billon naira is expected as the monthly IGR from January, adding that this will be achieved without adding any burden on the citizens.
“This will be achieved without increasing tax burden on the people of Oyo state”.
While saying that the government is aiming at least 70 per cent budget implementation noted “It is a budget that every woman, man and child in Oyo state can be proud of.
He however disclosed that Oyo State Road Maintenance Agency had been mandated to establish zonal offices in Oyo, Ogbomoso and Ibarapa.
Makinde also revealed that the state is embarking on staff audit and creating a data base for staffers to curb ghost workers in the state.
Speaker of the House, Adebo Ogundoyin explained that the house will pass the bill without wasting time.